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How
is Landlord411 different than traditional
credit reporting agencies?
1. We provide our clients with an immediate
tenant screening report in less than 10 seconds
via the Internet. Whereas, traditional credit
reporting agencies typically provide credit
reports only, and in some cases extremely
limited criminal record search coverage, Landlord411
allows you to obtain an objective and very
comprehensive record indicating the applicant’s
rental behavior as a resident of your community.
2. In addition to providing an immediate screening
response, we also provide a consistent credit
recommendation (Accept, Accept with additional
deposit, Accept with a co-signor or decline)
based on the criteria that the owner/manager
sets for their property. This reduces the
likelihood of costly Fair Housing Complaints.
3. Landlord411 automatically prints records
for your files and any letters required by
the Fair Credit Reporting Act.
4. Tenant Screening Reports can be run 24
hours a day, 7 days a week, 365 days a year.
Whereas traditional credit agencies are open
during more "normal" business hours (no more
waiting until Monday).
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What
equipment do I need to get started?
Virtually any computer that has access to the
Internet will work.
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How
do I get started?
Click here
to register with Landlord 411, then complete
the Tenant Screening sign up process.
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Are
there a minimum number of tenant screening reports
that need to be performed each month?
There are no minimum transaction requirements
or monthly services fees – ever!
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Whom should I screen?
Screen EVERYONE over the age of 18 – and screen
consistently. If parents with children rent
your unit and the child will turn 18 within
the lease period, be sure to get an application
on that child also. If you ever need to evict
or collect from those tenants, it will be
much easier and safer to have as many adults
as possible named on the action.
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How
do I know employment and landlord references
are real businesses?
Verify employment and landlord information
through "Yellow Page" information in addition
to calling the number supplied to you by the
prospective resident. You would be surprised
at how many “friends” verify employment and
rental history
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How
do I know the prospective tenant has the ability
to pay the rent?
Request a copy of the most recent pay-stub
to verify income. Also, you may choose to
verify the bank account balances by calling
the bank and asking if a check in the amount
of the rent will clear the bank. Some managers
will verify TWICE the amount, just to see
if the tenant actually has "working capital"
in the account.
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How
do I know that this person is who they say
they are?
Verify the applicant's identification with
a photo ID. Make copies of the Social Security
Card and the Driver's License for your files.
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What should I do if
I decide not to rent to the applicant?
Decline your prospective tenant’s application
to rent properly. Be sure to provide the applicant(s)
with an “Adverse Action” letter for any action
other than an approval on standard terms (i.e.
an additional deposit, cosignor, or declined
application).
Know your
local, state and federal laws regarding the
use of consumer reports. In some states (i.e.
CA), if requested, you must show the applicant
a copy of their credit report, whether they
are denied credit or not and must also provide
a copy of the credit report to the applicant.
The exception to this rule would be if you
didn't charge the tenant a screening fee.
If you decline to rent to an applicant, he
or she is entitled to a free credit report
and should be referred to your screening vendor
for proper handling.
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